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U.S. v. Winthrop

U.S. v. Winthrop & Ordinary Income 

In the past, we’ve discussed how capital gain treatment of a given transaction (or series of transactions) depends on a variety of factors. In cases where there is uncertainty regarding the treatment of a transaction, courts will perform an independent analysis based on the particular facts of the case, but they will also give weight to established principles. Receiving […]

common tax forms

Common Tax Forms for New Yorkers

With all of its various city and county level taxes, the tax system of the State of New York is truly one of the more complicated tax regimes in the country. Taxes are quite literally everywhere – there’s transfer taxes, income taxes, sin taxes, general sales taxes and countless other taxes which New York residents […]

Real Estate Transfer Tax

The New York Real Estate Transfer Tax

Our great State of New York uses a wide variety of means to generate income. As we’ve seen, there’s state income taxes, sales taxes, specialized surtaxes, corporate taxes and many others. Just when you may have thought that the list couldn’t grow any longer, there’s yet another tax to discuss: the New York Real Estate […]

Vancouver’s Foreign Buyer Transfer Tax

Vancouver’s Foreign Buyer Transfer Tax

 Though we tend to focus on tax news and tax developments happening here in our great State of New York, it’s also useful to occasionally take a peek at tax news from other parts of the country and around the globe. This isn’t just for entertainment purposes: sometimes a development in one part of the country, or […]

Direct vs. Indirect Taxes

The Distinction Between Direct vs. Indirect Taxes 

As we’ve seen up close here on our blog, there are many, many different kinds of taxes. There are poll taxes, excise taxes, sales taxes, use taxes, income taxes, self-employment taxes, value added taxes – the list just keeps going and going. To raise much needed revenue, states throughout history and in the present have developed all sorts of different […]

Vacation Homes in a Sec. 1031

Using Vacation Homes in a Sec. 1031

In the past, we’ve discussed some of the issues which can arise when a taxpayer conducts a tax-deferred Section 1031 like kind exchange. We’ve also covered the variations on the standard “delayed” exchange which taxpayers may want to utilize in certain scenarios. One issue which tends to come up fairly often with real estate investors contemplating a […]

New York State budget

Highlights of the New York State Budget 

The New York State budget is the product of negotiation, and like any good negotiation, took a great deal of time, energy and focused effort to bring it together. Negotiation skills can be a tremendous benefit in virtually any sector of society, but are particularly useful in the world of politics. In politics, a skilled […]

REIT

Real Estate Investment Trust (REIT) Taxation

Even with the calamities of the late 2000s, New Yorkers and other Americans across the country are still consistently drawn to real estate as a potential source of income. This fixation with real estate is almost quintessentially American: here in the U.S., we have a history of striving for real estate ownership as a marker of […]

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